Money saving is more than a little sum of money you put a side. It is something found in
your everyday life by the way you life and the lifestyle you choose. It is not that hard to
save money, just a matter of learning all the different options and be creative. I have 10 most powerful tips on money saving. It is not going to make you rich over night
but if you stick to it you will find yourself in more control of your money.
1. Make a Budget
Have you ever wondered where all your money is gone even before you reach your next
paycheck day? Make a budget on paper. Knowing exactly where you are spending your
hard earn money is the best your to save money. You will have no idea where the money
is really gone until you see it on paper.
You will find out that you are spending too much money on unnecessary things. See your
own spending habits is the only way to cut down and save money. You will learn to
spend on the things that really matters and plan your budget.
2. Make a list
When you are budgeting your monthly budget, it is wise if you write down the most
important things in a list. Rank them in order of importance using number 1 to 10. This is
to help you visualize your money cash flow.
Allocate your money on daily need such as food, electricity, mortgage, utility, credit
cards, and the balance you should put a side. Although this way of saving money may not
seem like much, but once you add them up at the end of year you will see how much your
savings really are.
3. Be realistic and flexible.
Set a goal and be realistic. If you earn about $60,000/ year, saving $30,000 would be
great. But if you make it unrealistic, it will be make seems even harder to achieve it. It
will break your heart and you will end up saving nothing.
Once you have set up your goal, be flexible. Things are not always on the way as we
expected. If you manage to save up $ 150 on monthly basis, then only able to save $50
next month it is just fine. As long as you are focus you are on the right track.
4. Attitude
Money saving is an acquired skill. As you go with the process of saving money, you need
to have a good, positive attitude, which is often what will keep you heading to the right
direction.
If you cannot save, then you probably will not. Be determined and stay positive about
saving and break your old habits of spending money on impulse.
5. Alternative shopping.
When you are really need to buy things – always find alternative to spend your money.
Instead of heading to the mall, head straight to clearance rack where you could find
amazing bargain.
Thrift and surplus stores are another good alternative. Spend some time to find better
bargains. Sometimes you could find name brand merchandises with a fraction of the
original price. Do not ignore the dollar stores. Check them out and enjoy huge lumps of
saving.
Ebay. You could find almost anything from used underwear to expensive watches with a
laughable price. Just avoid the temptation to involve in the auction frenzy with other
buyers for items you do not really need.
6. Make it yourself present.
Look around for items you already have on hand to make a unique present. Let your
creative juice flow. Make your own handmade cards. Create your own wrapping paper.
Knit your own glove. Sew your table clothes. Make homemade chocolate; bake cakes,
and placing them in inexpensive glass containers or baskets.
Your handmade present is not only unique but also personal. People love getting personal
handmade items and the options are endless.
7. Coupons
Coupons can save you couple hundred dollars every year. It can be used at grocery stores,
retail chains, and any stores where the items are sold. In average you could easily save
5% o 10% on bill simply by presenting your discount coupons.
8. Buy thing in bulk
Always buy items you and your family use on a consistent basis in bulk on sale for a
great bargain. As an Example, shampoo, body soap, cooking oil, sugar, cornflakes, and
other items you know you will use them buy it in bulk on sale.
9. Limited your credit card usage
Use it only for emergency. If you only pay the minimum payment each month, it will
take you forever to pay off since all your money will go straight to pay the interest.
If your credit is in good standing, call your credit card company and negotiate a lower
interest. Just tell the representative and mostly they will care of your request just to keep
you as their customer.
10. Give your self some incentive
Money saving does not mean you have to stay away from things you love and give up the
good stuff. If you love movies, switch your nighttime show to late afternoon or evening
matinee. If you love fresh bread and pastry, visit your local thrift store. Taking your
family to eat out, choose restaurant with “all you can eat” buffet. For free entertainment,
some cities have areas that are popular on weekends where you could find free concerts.
Who says entertainment and having fun should be expensive? Check your local paper and
college for a list of free exercise class, poetry reading, dramas and painting exhibition.